The Head of Collections is part of the operations & risk management and is an accountant for overseeing the operations and implementation/testing of FairMoneys Collections Strategies.
He/She will be required to analyse various collections-related metrics and work with other stakeholders to ensure continuous portfolio monitoring and performance management.
To manage Collection processes enabling the smooth execution of all processes to ensure maximum customer satisfaction is achieved and service levels are met or exceeded.
To lead teams to meet and exceed business objectives ensuring the consistent achievement of all financial and operational KPIs across the department.
The objective of this Role
Maintain constant communication with management, staff, and vendors to ensure proper operations of the collections unit.
Develop, implement, and maintain quality assurance protocols.
Grow the efficiency of existing processes and procedures to enhance and sustain the organisation’s internal capacity.
Actively pursue strategic and operational objectives.
Ensure operational activities remain on time and within a defined budget.
Track staffing requirements, hiring new employees as needed.
Roles and Responsibilities
Responsible for the management and development of the collections teams ensuring that each area within the department meets its KPIs and ensures compliance with all company policies and procedures
Ensure that robust collection procedures are in place with a specific focus on reducing overdue debt & improving cash receipts delivering a seamless end-to-end process for the customer
To lead and implement strategic initiatives linked to FairMoney corporate objectives in order to ensure continuous improvement and best practice
Responsible for ensuring that the headcount and departmental operating costs are within budget and that costs are well controlled.
Lead, motivate and organise personnel to adhere to FairMoney core values and deliver a high level of staff engagement
Work with other areas to ensure alignment of structure, process and procedure, sharing best practices and driving continuous improvement
Introduce/maintain high levels of process automation to reduce costs and increase the speed & timeliness of transactional processing
Ensure all staff are properly trained and have appropriate resources available to be successful in their roles
Instigate legal proceedings against delinquent debtors and ensure management of associated costs
Direct involvement in the recruitment, selection induction and ongoing skills development for all direct reports, ensuring we attract and retain the best talent.
Line management responsibility for Managers and Team Leads.
Undertake formal performance reviews and 1:1 meetings with direct reports against KPIs.
Apply a process of continuous review and proactive management of absenteeism and attrition across all Teams taking appropriate action where necessary.
Management of any campaign migration or new business implementation.
Overall accountability for training, development and mentoring of direct reports to provide opportunities for skills expansion and career development.
Facilitate a culture of open and honest 2-way communication ensuring key messages are cascaded.
Ensure call monitoring is undertaken and reported monthly across representative samples of all transaction types and appropriate action is taken to correct any shortfall.
Management of any operations escalations relating to the Operational team’s performance.
Preparing, analyzing and presenting data to the Ops Head as part of weekly and monthly performance reviews.
Ensure forecasts and work schedules are accurately completed using relevant data information and scheduling tool.
Initiate the review of the collection strategy manual and queuing criteria on a quarterly basis or as business requires.
Initiate a review of the Collections Procedures Quarterly or as business requires.
Agency appointment and supervision. Coordinates the activities of the external agent which include but is not limited to engagement, a compilation of cases, a review of performance and periodic reports
Monitor and ensure that the external collectors adhere to the Code of Conduct. Ensure all customer payments are acknowledged by receipts and final discharge when resolved.
Bachelor's Degree in Finance, Accounting, or a related field.
6 - 8 years experience as a collections manager.
Experience with accounting software.
The ability to work accurately and independently.
Good verbal and written communication skills.
Excellent analytical skills and an eye for detail.